The ISM and Spend Matters Global Procurement Tech Summit kicks off tonight in Baltimore. Close to 300 people will be attending this year. You can follow the festivities live on Twitter (#ProcureTech2016) or check back on Spend Matters, as a bunch of us will be blogging live from the event.
Tomorrow during lunch, I’ll be giving a talk on five mega trends that will reshape the procurement and supply chain profession in the coming decade. These are:
- Digital disruption. I’ll introduce concepts such as the Internet of Things (IoT), the mobile revolution, redefining just-in-time (e.g., additive manufacturing) and much more.
- Big data and analytics. This portion of the chat will focus not just on analyzing larger datasets but also the underlying requirements to do so — and what’s possible with big data approaches to procurement. (Hint: It’s anything but just expanding “spend analytics” to new areas.)
- Social. I’ll explore why social is not just a type of interaction or a “feature” enabled through solutions, but rather how it represents a new a way of thinking and using technology. If all goes as planned, we’ll feature a live demo from Coupa, which will preview some “labs” social components not yet in general release centered on social collaboration around document creation and authoring.
- Financing trade and the supply chain. Payables and receivables financing do not have to be a zero sum game. It’s a huge opportunity for procurement to take a leadership role given that roughly $7.5 trillion sits on the balance sheets of corporates in the form of payables and receivables that are not intermediated by banks, non-banks or other lenders.
- Radical new technology and infrastructure. This is the most fun part of the talk (at least in my view). I’ll preview components from my blockchain breakout session that’s taking place later in the day, as well as provide an introduction to several less technical topics, including the progression from applications to networks to platforms (with tightly and loosely coupled apps).
If you’re attending #ProcureTech2016, please say hello to the Spend Matters analyst team. I’ll be joined by Pierre Mitchell, Xavier Olivera, Andrew Karpie, Peter Smith and Lisa Reisman, among others.